Analyst Actions on Gaming Stocks: LVS, WYNN, MGM, MPEL, BYD, BYI, CHDN, DDE, PNK, WMS (Week of October 31)
"Strong Buy" Rated U.S.-Listed Chinese Stocks (February 8, 2012)
China has become a significant source of profits for leading Casino and Gaming stocks such as Las Vegas Sands Corp. (NYSE:LVS), Wynn Resorts, Limited (NASDAQ:WYNN), MGM MIRAGE (NYSE:MGM), and Melco Crown Entertainment Ltd. (NASDAQ:MPEL). Below are latest notable analyst actions on Casino and Gaming stocks for the week of October 31, 2009.
Las Vegas Sands Corp. (NYSE:LVS): On October 30, Bank of America reiterated Buy rating on LVS, and maintained $21 price target. JPMorgan reaffirmed Overweight rating on LVS, and maintained $24 price target. KeyBanc Capital Markets downgraded LVS from Hold to Underweight, and established an $8 price target. Macquarie reiterated Neutral rating and $18 price target on LVS.
Wynn Resorts, Limited (NASDAQ:WYNN): On October 30, KeyBanc Capital Markets downgraded WYNN from Hold to Underweight, and established a $45 price target. On October 29, Credit Suisse maintained Neutral rating on WYNN, and raised price target from $40 to $50. Citigroup maintained Sell rating on WYNN, and raised price target from $39.00 to $40.80. On October 28, Macquarie maintained Underperform rating and reduced target price from $55 to $48.
MGM MIRAGE (NYSE:MGM): On October 30, KeyBanc Capital Markets downgraded MGM from Hold to Underweight, and established a $5.50 price target. Sanford Bernstein maintained Market-Perform rating and $9 price target on MGM.
Melco Crown Entertainment Ltd. (NASDAQ:MPEL): On October 30, UBS downgraded MPEL from Buy to Neutral, and reduced price target from $7.45 to $5.78. On October 26, JPMorgan maintained Neutral rating on MPEL, and established a $7 price target.
Profiles of MPEL's Major Competitors
Boyd Gaming Corporation (NYSE:BYD): On October 27, Goldman Sachs maintained Neutral rating on BYD, and reduced price target from $10 to $9. JPMorgan maintained Underweight rating on BYD, and reduced price target from $7 to $6. Bank of America maintained Underperform rating and $8 price target. On October 28, Barclays Capital maintained Equal Weight rating on BYD, and reduced price target from $10 to $8.
Bally Technologies Inc. (NYSE:BYI): On October 30, JPMorgan maintained Overweight rating on BYI, and raised price target from $42 to $44. Macquarie reiterated Outperform rating on BYI, and raised price target from $50 to $52. Sterne, Agee & Leach reiterated Buy rating on BYI, and raised price target to $59.50 from $54. Morgan Joseph reiterated Buy rating and $57 price target on BYI.
Churchill Downs, Inc. (NASDAQ:CHDN): On October 30, Hilliard Lyons mainained Neutral rating on CHDN. On October 29, Brean Murray reiterated Buy rating on CHDN, and maintained $47 price target. Stifel Nicolaus maintained Hold rating on CHDN.
Dover Downs Gaming & Entertainment, Inc. (NYSE:DDE): On October 29, BMO Capital Markets reiterated Market Perform rating on DDE, and maintained $5 price target. Stifel Nicolaus maintained Hold rating on DDE.
Pinnacle Entertainment, Inc. (NYSE:PNK): On October 30, Bank of America maintained Buy rating on PNK, and reduced price target from $14 to $12. Macquarie reiterated Outperform rating on PNK, and maintained $15 target price. On October 29, JPMorgan reaffirmed Overweight rating on PNK, and maintained $14 price target. BMO Capital Markets maintained Outperform rating and $14 price target on PNK.
WMS Industries Inc. (NYSE:WMS): On October 27, JPMorgan maintained Overweight rating on WMS, and maintained $54 price target. Macquarie reiterated Outperform rating and $55 price target on WMS. On October 26, Goldman Sachs maintained Neutral rating on WMS, and raised price target to $47 from $45.50. Bank of America reiterated Buy rating on WMS, and maintained $49 price target.
